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XRP XRP giant whale's dominant outflow position on centralized exchanges has dropped sharply
Recently, the proportion of capital outflows of XRP giant whale in centralized exchanges has dropped significantly. Just a few days earlier, large holders still controlled more than four-fifths of exchange outflows.
CryptoQuant data shows that the difference in outflows between giant whales and ordinary retail investors dropped from 64% on September 30 to 46.7% on October 8, a decrease of 17.3 percentage points, and a decline of about 27% in eight days. This reversal marks the end of the previously abnormally concentrated period of giant whale dominance. On September 29, giant whales accounted for 82% of XRP outflows on centralized exchanges, while in Binance, this proportion even reached 84.2%.
Giant whales are losing dominance of outflow
The latest data does not necessarily mean that giant whales are selling XRP. This indicator measures the relative difference between large and small fund holders flowing out of participating exchanges. Therefore, the narrowing spread suggests that whale size withdrawals no longer dominate relative to retail activity, rather than proof that the whale is dumping tokens.
This difference is crucial because previous whale outflows have been interpreted by the market as a signal that large holders have withdrawn XRP in large quantities from the exchange.
The same trend is also visible on the coin table, but to a lesser extent. From September 30 to October 8, the outflow spread between its giant whale and retail investors fell from 68% to 54.9%, a drop of about 19.3%. Despite this, this figure is still higher than the average of 46.7% for all exchanges.
104.7 million XRPs have recently left Binance and Upbit
The decline in the dominance of the giant whale has been accompanied by a significant reduction in exchange reserves. From late September to early October, Binance's XRP reserves decreased by approximately 73.1 million units, while Upbit lost another 31.6 million units. In total, approximately 104.7 million XRPs left the two exchanges.
This continues the long-term decline in exchange reserves. However, the mere fact that reserves have been reduced makes it impossible to determine whether the holder is accumulating, transferring funds between different platforms, or transferring tokens to an escrow account.
